Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Noryards Fosen has filed for bankruptcy, dismissing all 72 remaining permanent employees at the shipyard in Fosen. In addition, 128 employees that are already on temporary dismissals will have their dismissals made permanent, bringing the total job loss to 200. Over 80 employees were dismissed in 2014 and 2015 before the latest development. The company filed for bankruptcy after failing to reach an agreement with Boa Offshore to build a new subsea ship which would have secured activity at the shipyard in the immediate future. The company has large debts and has struggled for some time due to the crisis in the petroleum industry.
Eurofound (2015), Noryards Fosen, Bankruptcy in Norway, factsheet number 85188, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85188.